According to the President and Chief Executive of Nobel REIT, Jean Teasdale, "Nobel REIT acquired thirteen investment properties during the last year, of which seven were acquired during the last quarter; the REIT went from about $15,000,000 of total assets as at June 30, 2014 to close to $100,000,000 as at June 30, 2015. Although the latest acquisitions were mainly completed in June, they still helped increase revenues by more than 15% during the second quarter of 2015 compared to the previous quarter; this increase will be much more significant when the newly acquired investment properties have been in operation for a full quarter. These acquisitions also had a significant impact on the July distribution, which was increased by 39.4% compared to the previous month. We therefore intend to continue this trend, in accordance with our growth plan".

Highlights and selected financial information

The following tables show highlights and selected financial information for the quarter ended June 30, 2015.

As at June 30,

As at December 31,

2015

2014

$

$

Financial position

Investment properties

93,887,652

59,586,619

Total assets

98,758,627

66,063,767

Mortgage loans payable

60,144,409

38,636,767

Non-current liability

58,913,535

38,013,264

Unitholders' equity

36,282,843

25,821,412

Management discussion and analysis

Number of investment properties

15

8

Gross leasable area, in square feet

694,235

395,970

Occupancy rate

98%

99%

Mortgage debt ratio

61.2%

58.8%

Three-month

Three-month

period ended

period ended

June 30, 2015

June 30, 2014

$

$

Comprehensive income

Rental revenues from properties

1,840,858

485,354

Net operating income

1,268,222

277,023

Net income (net loss) before changes in fair values

593,479

(510,013)

Management discussion and analysis

Funds from operations

611,903

(49,048)

Adjusted funds from operations

613,855

(47,173)

Six-month

Six-month

period ended

period ended

June 30, 2015

June 30, 2014

$

$

Comprehensive income

Rental revenues from properties

3,440,620

977,015

Net operating income

2,345,109

564,383

Net income (net loss) before changes in fair values

1,144,568

(484,024)

Management discussion and analysis

Funds from operations

1,162,992

(23,059)

Adjusted funds from operations

1,166,897

(19,309)

The consolidated financial statements of Nobel REIT, which were prepared in accordance with IFRS, and the management discussion and analysis report for the quarter ended on June 30, 2015 have been filed on SEDAR at www.sedar.com.

Grant of unit options

Nobel REIT also announces that it has granted yesterday unit options to key collaborators, of which 160,000 were granted to officers of the REIT, in accordance with its unit option plan and policy 4.4 of the TSX Venture Exchange. The options will vest immediately to the holders and are valid for a period of five years with an exercise price of $4.25 per unit option.

Agreement to acquire 72 rue Laval in Gatineau

The REIT also announced that it will acquire in joint tenancy, 50% of an investment property located at 72 rue Laval in Gatineau (Quebec), the other half being acquired by Rue Laval Limited Partnership, a business from Ottawa. This is a fully leased office building, with a gross leasable area of 68,365 square feet, located on a land of 18,286 square feet in the nerve center of Gatineau's government affairs; the main tenant is Public Works and Government Services Canada. The purchase price for Nobel is $ 9,250,000, excluding acquisition costs.

This transaction will be financed in part by proceeds from the REIT's equity private placement completed on June 2, 2015, by a bridge financing granted by Desjardins and by a mortgage from MCAP Financial Corporation.

About Nobel REIT

Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Québec. Nobel REIT has been created for the purpose of acquiring and owning income producing properties. The REIT will focus on acquiring commercial retail, mixed-used retail, industrial and office properties in the primary and secondary markets in the Province of Québec. Nobel REIT currently owns fifteen properties located in Québec, comprising 694,535 square feet of gross leasable area.

Disclaimer – Safe Harbour Forward–Looking Statements

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nobel REIT to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.